Good morning. Below is the University of Oregon Regional Economic Indexes for April 2019. The release date is June 18, 2019. We thank KeyBank for their generous support of this project.
Oregon Regional Economic Indicators:
Regional measures of economic activity generally softened in April. Highlights of this month’s report include:
- For all regions covered by this report, raw and moving average measures (which smooth monthly volatility) were above zero, indicating an above-trend pace of activity (trend activity differs across regions).
- A wide range of indicators contributed to the slowdown evident in the Portland and Central Oregon regions. In particular, slower job growth across major sectors yielded generally negative contributions from the employment components.
- While employment in other regions was more mixed and unemployment remains low, slower labor force growth weighs down most regional indicators. Home construction activity was generally softer.
- Housing permits made positive contributions in only the Portland area and Central Oregon; even those gains remain muted compared to past cycles.
- Low levels of initial unemployment claims suggested continued job growth is most likely for Portland and Eugene areas; an uptick in Central Oregon claims again resulted in an only small positive contribution from that component.
Tim Duy – 541.346.4660 (w)